Press Conference on 2021 Budget Report

                                                 Theme: An Analysis of the Sustainability of the Public Debt in Cameroon

                                   24^th November 2021, 11 am – 1 pm, Headquarters Denis & Lenora Foretia Foundation, Simbock, Yaounde

1. Background

The year 2020 was marked in Cameroon by the COVID-19 pandemic, socio-political and security crises that had a profound impact on the country’s economy. Cameroon’s general budget, however, increased from CFAF 4,409 billion in 2020 to CFAF 5,235.2 billion in 2021.  This increase in the State budget is partly due to the rise in oil prices in the world market after the sharp drop recorded in 2020 and due to a number of priority actions defined and implemented by the government. However, the budget remains insufficient to cover all the financial commitments of the State. This explains the government’s recourse in June 2021 to the financial market to obtain a new Eurobond. While it is true that this new Eurobond would allow the refinancing of part or all of the 2015 Eurobond, this would have no impact on the current level of public debt. Nevertheless, the pace of Cameroon’s indebtedness is currently worrisome.

2. Objectives

The main objective of the press conference is to disseminate the findings of the 2021 Cameroon Budget Report written by the Nkafu Policy Institute. More specifically, we shall present:

• The 2021 State budget with emphasis on the amounts allocated to the ministerial departments in charge of promoting free enterprise;
• Cameroon’s budget deficit and how it is financed;
• The structure of public debt in Cameroon;
• The determinants of public debt in Cameroon;
• An analysis of the sustainability of the public debt.

3. Target Audience

  This event targets journalists from print, radio, television and online media as well as bloggers.

4. Speakers

• Moderator

Dr. Vera Kum – Economic Research Fellow, Economic Affairs Division, Nkafu Policy Institute

• Panelists

Dr. Jean Cédric Kouam – Deputy Director of the Economic Affairs Division, Nkafu Policy Institute

Dr. Steve Tametong – Democracy and Governance Policy Analyst, Nkafu Policy Institute

Mr. Bin Joachem Meh – Free Enterprise Associate, Nkafu Policy Institute.

5. Contact

Email: [email protected]  / Tel: (+237) 22 31 15 84 / 654 86 72 54